Richard Secord, embattled chairman of Computerized Thermal Imaging, bought back shares in his company after being subpoenaed by a federal grand jury probing the retired U.S. Air Force general for breaking securities laws.

The move by Secord apparently violates securities laws.

“He panicked. He realized he was caught and tried to go back in time. Trouble is you can’t back out once you break the law,” said Dominic Amorosa, a securities lawyer.

Secord – the 70-year-old who pleaded guilty to lying to Congress during the Iran-Contra scandal – added more fuel to the investigation into his trading activities when he bought back shares in his company only a week after he sold shares.

In a federal filing, Secord claimed the purchase was in “cancellation of stock trades previously executed Dec. 9 and 10, 2002.”

But insiders are not allowed to buy or sell their stock within six months of a sale or purchase of that stock, according to Securities and Exchange Commission experts. And the sale, while adding new charges to the pile of troubles facing Secord, won’t help in either case.